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‘Pregnant with opportunity’: FOCOL’s $25m rights issue

FOCOL Holdings is “pregnant with opportunities”, its chairman said yesterday, as it unveiled a $25m rights offering for existing shareholders to finance further expansion plans.

FTX settlement ‘proves naysayers were wrong’

The FTX settlement shows The Bahamas has “beaten expectations” and “proven the doom and gloom naysayers wrong” over the crypto exchange’s collapse, a well-known businessman argued yesterday.

Sir Franklyn: ‘Price deflation’s’ consumer confidence boost

A BISX-listed food retailer’s disclosure of “price deflation” in some product categories should inspire improved consumer confidence heading into 2024, a Bahamian businessman argued yesterday.

‘Historic first’: Dionisio teams with Sir Franklyn

Sir Franklyn Wilson yesterday hailed as an “historic first” the involvement of two former tourism ministers as investors in a project aiming to become “the Bahamian destination of choice for the most discerning” traveller.

Sir Franklyn's developer in $7.5m battle with MIT chair

Sir Franklyn Wilson's Eleuthera Properties is locked in a legal battle with Massachusetts Institute of Technology's (MIT) chairman emeritus over the latter's bid to exit his $7.5m investment in the Bahamian developer.

'Anyone who wants diesel able to buy it'

FOCOL Holdings chairman yesterday voiced optimism that "anyone who wants to buy diesel on this island can get it" even though "the majority" of petroleum retailers were said to have stopped sales of this fuel.

FOCOL raise could have beaten $16m

FOCOL Holdings could have raised "far more" than the $16m received in Monday's preference share offering, its chairman said yesterday, as it moves into an accelerated "growth mode".

Sir Franklyn hails golf tie-up as ‘world first’

An Eleuthera-based resort community’s principal developer yesterday hailed its “world first” in being able to offer two golf courses separately designed and branded by some of the sport’s biggest names.

‘Someone did some thinking’: Petroleum competition push

Petroleum retailers and wholesalers are studying “significant new ideas” proposed by the Government to foster greater competition - “but not at the expense of consumers” - in a bid to resolve the industry’s structural woes.

Sir Franklyn: Quieting Titles ‘licence to thief’

Arawak Homes chairman yesterday urged The Bahamas to embrace a system of registered land as he warned that the Quieting Titles Act has become “a licence to thief”.

Sir Franklyn ‘less sure’ over size of gas margin increase

FOCOL’s chairman yesterday revealed he is now “less sure” that the magnitude of the margin increase sought by Bahamian petroleum retailers can be justified and urged them to supply evidence to prove their case.

Sir Franklyn ‘surprised’ at hint margin talks ending

FOCOL’s chairman says he is “surprised” that Bahamian petroleum retailers indicated negotiations over a margin increase had ended because talks were ongoing at the Prime Minister’s Office yesterday.

Sir Franklyn ‘more confident’ than ever gas woes solved

FOCOL’s chairman yesterday said he is “more confident” than ever before that the push by Bahamian petroleum retailers for increased margins can be resolved “without adversely impacting the motoring public”.

Sir Franklyn: Gas woe ‘won’t cripple country’

FOCOL’s chairman yesterday said he was “very confident a solution will be found” to the Bahamian petroleum industry’s financial woes, and added: “This will not be fatal to the country.”

Sir Franklyn: Gas retailers have ‘made case for relief’

FOCOL’s chairman yesterday agreed that Bahamian petroleum retailers have “made their case for immediate relief” despite a Cabinet minister dismissing any prospect of an increase in gasoline and diesel margins.

Gambling ‘instability’ fuels wider Bahamas inequality

The gap between rich and poor Bahamians “continues to widen immeasurably”, a prominent businessman warned yesterday, while blaming gambling for causing increased family and social instability.

Sir Franklyn: FTX is ‘not our first rodeo’

A well-known businessman yesterday urged the Bahamas to “stand united” in the face of FTX’s implosion as he blasted the Opposition’s leader for trying to “score cheap political brownie points” over the affair.

Politicians urged: ‘Preach the lessons’ of hard work

The Bahamas is suffering from “a shortage” of political leaders who “preach the lessons” of hard work as opposed to offering hand-outs and giveaways, an outspoken businessman is arguing.

Bahamas ‘nowhere near crisis’ despite new US recession fear

A prominent businessman yesterday sought to reassure that The Bahamas “is nowhere near crisis mode” despite mounting global economic gloom with suggestions that the US is now in an “unofficial recession”.

FOCOL chief: Make ‘every possible effort’ on Venezuela relief

FOCOL Holdings chairman yesterday urged the Prime Minister and his government to make “every possible effort” to have sanctions on Venezuela removed as the release of its oil will likely have “a material impact” on world markets.

FOCOL ‘gunning’ to beat $40m savings for BPL

FOCOL Holdings is “gunning” to beat the $40m savings pledged to Bahamas Power & Light (BPL) customers through the New Providence rental generation it will supply to prevent summer blackouts, its chairman asserted yesterday.

Arawak Homes ‘umbrage’ on former-PM’s criticism

Sir Franklyn Wilson yesterday said Arawak Homes “takes serious umbrage” with Dr Hubert Minnis’ assertion that a southern New Providence community it is developing is “set up for disaster” and was started without the necessary permits.

‘Give gas dealers reward for no Easter shut down’

The Government was yesterday urged to give gas station operators some reward for letting “common sense prevail”, as the industry pledged “there’ll be no shut down on this island” over the Easter weekend.

Gas margin rise ‘non-starter’ despite fairness questions

A Cabinet minister yesterday ruled out increased margins for gas station dealers as “a non-starter” even though a major petroleum supplier conceded that current volatility “calls into question the fairness” of the industry’s pricing structure.

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